Recoleta Carolina said:
Lucas,
With all due respect it is not just people from Mexico and South America. The people come from all over, from every single country in the world, from A - Z.
not for long carolina....not for long.....many immigrants have already moved back home. why? because there is simply no work. there are no jobs. our national unemployment rate is officially 9.7%, which of course, we know is much higher.
if you take california, the rate is 12.2%. california has about 38 million residents, the same population as all of argentina. that means about 1 in every 8 people is without a job. and this will only get worse.
the media lies of course and talks about a "jobless recovery", which is the most ridiculous, most asinine attempt at propaganda and spin that could ever be conjured by the economic pundits, fools and court jesters that surround king obama.
you cannot have an economic recovery without job growth.
the standard of living for the average american is going to drop off a cliff......we don't know if it will be 6 months, a year or two years but it will happen. the damage has already been done/created. it's simply a matter of time. you simply cannot print money the way federal reserve has been doing without some kind of negative consequence to the dollar.
the US is in the same position that argentina has found itself so many times in the past. when you cannot pay your debts, you have 2 choices. you either default, which is what argentina did in 2001 or you inflate your currency and thus inflate away the debt. we have chosen to inflate. this means that we are destroying the US dollar along with the purchasing power of anybody holding said dollars.
therefore, don't be overly leveraged in the US dollar. buy gold and silver bullion coins in order to hedge yourself and protect from hyper inflation. gold is up 9 years in a row. silver is up 50% just this year. i can't think of any asset classes these days that are performing as well.